asked the Minister for Finance the estimated cash-flow loss of the budget proposal to allow small companies to make their remittances of all taxes once each year; the value of annual interest foregone by the Exchequer as a result; whether the revenue debts involved will continue to have preferential status; and, if so, the length of time they would have that status.
Written Answers. - Small Business Tax Remittances.
60.
I am informed by the Revenue Commissioners that they do not anticipate any net cash flow loss of tax and interest to the Exchequer arising from the implementation of the proposal for annual remittances by very small scale traders and employers. This is because any cash flow loss involved will be counterbalanced by expected gains arising from the redeployment of resources within the Office of the Collector-General to areas of collection which would be more productive in terms of yield.
It is not intended that there will be any change in the preferential status of revenue debts in consequence of the proposed scheme.